DORAVILLE, GA. — New Broad Street and General Motors (GM) have reinstated their contract for New Broad Street's purchase of the former GM plant located in the Atlanta suburb of Doraville. The contract extends the closing date from June 30 to August 31. The additional time will be used to finalize development agreements between the City of Doraville, Dekalb County officials and New Broad Street as well as finalize the issuance of $36 million in Recovery Zone Economic Development bonds issued by the local development authority.
In addition, New Broad Street President David Pace has announced plans for his firm to launch a website to keep the public informed of the progress on the project. The site will go live by June 15.
New Broad Street originally announced its plant to purchase the GM plant in February. It plans to redevelop the 168-acre site into a mixed-use, transit-oriented project. To read the original story, click here.
— Coleman Wood